Italian Asset Manager AcomeA Trials Fundsquare’s Blockchain Platform

Italian asset management company AcomeA SGR has successfully completed a fund transactions using a blockchain fund management platform.

Based in Italy, AcomeA SGR operates as an investment management company. It offers asset and portfolio management, mutual funds, consulting, and financial advisory services.

The fund transactions was carried out in collaboration with Fundsquare, a subsidiary of the Luxembourg Stock Exchange together with IT company InTech and KPMG as an advisor. For the transaction, AcomeA used Fundsquare’s blockchain infrastructure called FundsDLT, an international blockchain platform connecting transfer agent activities, payment systems and investors, along with Fabrick for API and banking support.

The transaction reportedly allowed AcomeA SGR to carry out, through its Gimme5 service for direct distribution of funds to savers, real-time subscription and redemption transactions of shares of investment funds and related payments, using smart contracts and connections via an API to the banking network.

“The project is part of the series of activities that AcomeA has always carried out to simplify and make the world of asset management more accessible,” said Giordano Martinelli, Vice President and Head of technology at AcomeA SGR. “The importance of the test lies not only in the technical aspects; the collaboration with Fundsquare and Fabrik demonstrates the value of cooperation in the Fintech sector; working together we are able to bring notable benefits not only to operators in the asset management sector, but above all also to savers.”

According to the Italian company, the test demonstrated the efficiency and cost savings of a new generation ecosystem for processing D2C orders in investment funds, where the various actors involved in the distribution process can interoperate and offer a digital front-to-back experience to final customers.

“European fund actors continue to move towards the future with ongoing innovation in the D2C space,” said Olivier Portenseigne, managing director of Fundsquare. “The FundsDLT initiative aims to help investment fund companies improve their buyer journeys, reduce costs, increase efficiency and ultimately create value for investors.”

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